BALTIMORE, Nov. 12, 2015 /PRNewswire/ -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) declared today a year-end distribution of $0.78 per share. The total distributions by the Fund for 2015 will be $0.93, including the distributions of $0.15 per share made prior to today's announcement. The annual distribution rate represented by these distributions is 6.8%.
The year-end distribution consists of the following:
- $0.77 per share from net capital gains realized during 2015, comprised all of long-term gain.
- $0.01 per share from 2015 net investment income.
This marks the 51st consecutive year that the Fund has paid out capital gains and the 80th consecutive year it has paid out dividends to its shareholders.
Commenting on the year-end distribution, Mark E. Stoeckle, CEO of Adams Diversified Equity Fund, said: "This amount is consistent with the commitment we made to our shareholders that we will distribute each year an amount equal to at least 6% of the Fund's trailing 12-month average month-end market price. Our commitment reflects our long history of providing attractive distributions of dividend income and capital gains. We will continue to manage the portfolio for attractive long-term returns while providing an annual distribution rate of at least 6%."
The payable date for the distribution is December 28, 2015, the record date is November 25, 2015, and the ex-dividend date is November 23, 2015. Both payments are payable in stock or cash at the option of each shareholder.
Details regarding the annual 6% minimum distribution rate can be found at www.adamsfunds.com.
Adams Diversified Equity Fund is a Baltimore-based closed-end fund that has been operating as an investment company since 1929. Its stock trades on the New York Stock Exchange under the ticker symbol ADX.
For further information, please contact:
Nancy J. Floyd Prue Executive Vice President Director of Shareholder Communications 410.752.5900 or 800.638.2479 Email: firstname.lastname@example.org adamsfunds.com
SOURCE Adams Diversified Equity Fund, Inc.